2016 (9) TMI 1005

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..... transactions were genuine. In absence of certain records which were destroyed due to floods, the assessee had produced alternative materials and evidences which were found to be satisfactory. - Decided in favour of assessee.
Akil Kureshi And A. J. Shastri, JJ. Mr Sudhir M Mehta, Advocate for the Appellant ORDER ( Per : Honourable Mr. Justice Akil Kureshi ) 1. Leave to amend. 2. The Revenue .....

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..... bunal remanded the issue before the Assessing Officer. Even after the assessee placed the further materials in support of the genuineness of loans, the Assessing Officer treated such transactions as non genuine. The Commissioner of Incometax (Appeals) reversed the finding of the Assessing Officer, upon which, the Revenue approached the Tribunal. Tribunal by the impugned judgment, dismissed the Rev .....

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..... accounts the claim of assessee should not be admitted. 8. The CIT(A) having considered the remand Report as well as material on record, observed that since the proceedings before the Assessing Officer were set aside proceedings, the Assessing Officer was expected the fact of loss of books of accounts in floods and had directed the Assessing Officer to verify the claim with respect to bank accou .....

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